RaaS - Research as a Service

Total Brain Ltd (ASX:TTB) is the developer of a neuroscience-based mental health and fitness platform powered by the largest standardised neuroscientific database in the world formed over almost two decades and with >$50m of R&D funding. In a recent operational update TTB noted it would invoice affinity partner IBM $0.15m in revenue before the end of the calendar year for work in relation to preparation for the official launch of the GRIT (Get Results In Transition) digital mobile support platform for US veterans in transition on December 2. GRIT is the first product generated by Total Brain’s collaboration with IBM on its Health & Wellness 360 platform. Total Brain powers the Mind Gym module of the GRIT app. TTB’s update also noted that the previously announced deal with Hamptons Life for a direct-to-consumer version of the Total Brain platform is unlikely to proceed on the terms entered into in the non-binding Heads of Agreement due to a deteriorating operating environment from COVID-19. Discussions are ongoing for a smaller, non-exclusive partnership. At the company’s annual general meeting yesterday, new Interim CEO Matt Mund highlighted a renewed focus on clinical care support both from a branded Total Brain app and white-labelled Total Brain services. Mr Mund also noted that Total Brain remained focused on developing its population health vertical, well represented by the IBM GRIT programme for US veterans. He noted that TTB expects to end CY2021 with a 39% increase in annual recurring revenues of $4.8m and that based on current cash balances of $2.6m and near-term inflows, the expected cash runway was until the end of June 2022.

Total Brain Limited

• 01 Dec 21
• -
• 

Amaero International Ltd (ASX:3DA) is a global specialist in metal additive manufacturing for the defence, aerospace and tooling sectors. At its annual general meeting on Friday, the company noted that four key near-term projects are progressing on track with key developments expected in this quarter. Its 150tpa titanium alloy plant has secured a lease for the facility, select component testing completed and machines are being constructed with first alloy on track to be delivered in Q1 FY23. The company expects the heads of agreement (HoA) with Fletcher Insulation to be signed this quarter and the first batch of Amaero H.O.T. Al in its JV with Rio Tinto is being atomised into powder and testing will commence in the current quarter. The company also anticipates that the HoA for the Middle East project could also be signed this quarter or early in Q3 FY22 and it expects a number of key agreements with aerospace and defence firms to be signed over the next six months.

Amaero International Ltd

• 29 Nov 21
• -
• 

Chimeric Therapeutics (ASX:CHM) is a clinical-stage cell therapy company focused on developing and commercialising a range of chimeric antigen receptor T (CAR T) cell therapies targeting haematological cancers and solid tumours. CHM was founded in 2020 by its Executive Chairman, Paul Hopper, and listed on the ASX on 18 January 2021, raising A$35m from the sale of 175m shares at A$0.20/share. At the time of the IPO, CHM had licensed from the City of Hope (COH) Cancer Centre in Los Angeles the CLTX CAR T targeting solid tumours. CHM has subsequently expanded its portfolio to include CDH17 CAR T, secured from the University of Pennsylvania, which is being studied for use in the treatment of gastrointestinal cancers and neuroendocrine tumours. CHM intends to develop and commercialise its CAR T therapies for its own use, for a possible licensing or distribution arrangement, or possible sale to a leading global pharmaceutical company. We have valued CHM at a mid-case of A$243m or A$0.74/share (A$0.67/share fully diluted for all options), using a risked NPV based on our assumptions for CLTX CAR T therapy for recurrent GBM, which is currently in Phase I trials. Our valuation range is from A$0.50/share to A$0.93/share on the current share count. We expect to revisit the portfolio valuation as the company progresses these assets beyond the pre-clinical stage.

Chimeric Therapeutics Ltd.

• 29 Nov 21
• -
• 

Schrole Group Limited (ASX:SCL) is an Australian software company focused on providing technology solutions to the international education and training sector. Schrole HR has a suite of five established and emerging human resources Software-as-a-Service (SaaS) offerings including its core product, Schrole Connect, a SaaS-based staff recruitment platform. The company has announced it has received firm commitments for a $2.5m share placement at $0.01/share to institutional and sophisticated investors and will additionally raise up to $1.5m via a Share Purchase Plan (SPP). Schrole Group also noted, in a presentation to the Coffee Microcaps forum, that the integration of Schrole Connect on the Faria platform was largely complete and that a joint marketing effort to Faria’s 1,200+ international schools could commence as soon as December. The company also highlighted that it was benefitting from significantly increased employment activity with record numbers of unique visitors tapping into Schrole Events looking for new positions. Managing Director Rob Graham highlighted that more than 50,000 unique visitors had visited the platform in one week recently, which was 300% higher than the best-ever week previously. This level of interest has the potential to convert into both subscriptions by candidate teachers and SaaS sales with schools. We have incorporated the recently completed, oversubscribed $2.5m share placement into our forecasts with the effect that our base-case valuation has increased to $51.8m or $0.031/share (previously $49.3m or $0.035/share).

Schrole Group Ltd.

• 26 Nov 21
• -
• 

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise WAM® (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. The company has reported lower levels of customer conversion in Q1FY22 because of the impact of COVID-constrained business development and order completions. AL3 has $5.4m in cash and has been active in developing opportunities in the quarter despite these obvious constraints. The company has advanced connections with academia and will see commercial benefits in both machine sales and technology development from relationships with Deakin University, University of Queensland and RMIT. Boeing, BAe, Keppel and other significant entities are in the process of qualifying parts made using the WAM® process and we expect commercial results to follow. Agreed board retirements prior to the AGM leave AL3 considering roles for two new non-executive directors while manufacturing business momentum is rising in the defence aerospace and subsea oil and gas sectors. A recent ARCEMY® WAM® module sale to RMIT and research partnership with Deakin University broadens commercial opportunities in welding wire development and supply using boron nitride nanotubes to enhance aluminium composites.

AML3D Ltd

• 26 Nov 21
• -
• 

Empire Energy Group Limited (ASX:EEG) is a junior oil and gas producer/explorer, with onshore Northern Territory (NT) and US oil/gas assets. EEG holds the largest tenement position (28.9mn acres) in the highly-prospective Greater McArthur Basin, which includes the Beetaloo Sub-basin. The NT energy basins are fast developing as strategic sources of liquids-rich gas to meet east coast Australia’s future energy needs and supply for Darwin’s expanding LNG export terminals and future backfill gas for Gladstone LNG terminals. The recent Tamboran capital raise has positive implications for the Beetaloo gas story, demonstrating continuing investor interest to complement strong policy/funding support from territory and federal governments. Positive look-through data from regional operators, including Origin/Falcon and Santos/Tamboran, add more grist to the emerging Beetaloo Sub-basin commercialisation model. EEG is well funded for its next drilling phase, with $19mn in federal government grants pending and gross cash of ~A$30mn in hand. EEG’s business case could materially progress over the next 12 months.

Empire Energy Group Limited

• 25 Nov 21
• -
•